Three years ago, the Los Angeles Rams agreed to a deal with Odell Beckham Jr. The wide receiver signed a modest contract worth $750,000. Beckham made waves when he announced he was taking his salary in Bitcoin.
In this context, someone “taking salary in Bitcoin” really means getting money via direct deposit and then purchasing Bitcoin using a third-party app. By the summer after his 2021 season with the Rams, Beckham’s decision looked terrible. The price of Bitcoin had plummeted from $64,293 per Bitcoin when Beckham signed… all the way down to $20,000. He had essentially lost more than two-thirds of his investment. After taxes, he technically lost money playing in the NFL that season.
However, it seems like Beckham has been patient with his investment—and now, with Bitcoin at an all-time high of $92,000, he’s getting the last laugh…
Bryan Bennett/Getty Images
Let’s follow Odell’s own proclamation and assume he “took” his full $750,000 base salary and converted it into Bitcoin. In the middle of November, when the deal and Bitcoin plan was announced, Bitcoin was worth $64,293. So, at that point, $750,000 would have bought 11.66 Bitcoin.
As I type this article a single Bitcoin is worth $88,000. So, assuming he still has 11.66 Bitcoin, that stake is now worth $1,026,080.
That’s a nice chunk of change, though it’s still less than Beckham currently makes as a member of the Miami Dolphins. He has a base salary of $3 million with a possible value of $8.25 million with incentives. It’s unclear if he’s taking some or all of his Dolphins salary in Bitcoin. If he did, hopefully, he started investing before the election.
And here’s Odell taking a well-deserved victory lap on Twitter earlier this week:
Soooo who said taking my Rams salary in bitcoin was dumb again? 🤔🤫😌 pic.twitter.com/7ZPJtRm2gG
— Odell Beckham Jr (@obj) November 13, 2024
Read more: Odell Beckham Jr. Gets The Last Laugh With Bitcoin Salary Conversion
